GBP/CHF Up 18 Pips in Last 4 Hours, Moves Down For the 2nd Day In A Row; in a Downtrend Over Past 14 Days

GBP/CHF 4 Hour Price Update

Updated June 25, 2020 01:13 PM GMT (09:13 AM EST)

GBP/CHF is up 18 pips (0.15%) since the previous 4 hours (opening the current 4 hour candle near 1.1801), marking the 3rd candle in a row an increase has occurred. Compared to its peers in the Forex, GBP/CHF gave its buyers a return that ranked 11th in terms of percentage change since the previous 4 hours.

GBP/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

GBP/CHF is down 1 pips (0.01%) since the day prior (opening today near 1.1769277341), marking the 2nd day in a row it has gone down. Relative to other instruments in the Forex asset class, GBP/CHF ranked 22nd the day prior in terms of percentage price change. The price chart of GBP/CHF below illustrates.

GBP/CHF Technical Analysis

Notably, GBP/CHF is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 100 day average, which is 160.4 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 14 days GBP/CHF’s price has gone down 8 them.

The View From Around the Web

Of note is that traders in aggregate have opinions on GBPCHF, with 17 buy signals on our radar and 15 sell signals. This imputes a buy/sell ratio of 1.13, which is neutral. As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

GBPCHF has been ranging between the resistance zone at 1.22000 and the support zone at 1.17500….Price is currently at the support zone and is showing signs of rejection at the support zone….A stop loss could be placed a few pips below the support zone, as a break below the support zone could send GBPCHF downwards.